Can Data Visualization Help Your Business? - by Vivek Mukherjee
Data visualization sounds like an intimidating term. However, it simply refers to the charts, graphs, and diagrams used to help people make sense of numbers and statistics. Infographics are a popular way to do this on the internet, as they are colorful, user-friendly, and usually interactive. Many companies ask themselves if it is worth it to hire someone specifically to help with transforming data into these easy-to-read charts and graphics. How can data visualization help your business?
What Is Data Visualization?
Raw data is usually not pretty to look at and is very hard for most people to interpret. Data visualization puts this raw data into a form that is easy for all people to read, from new customers to the CEOs of a company who do not have much time to decipher raw data. Various forms of data visualization include:
Heat maps, which show a colorful representation of data over a web page or other diagram of space
Line graphs, which are good for showing how figures change over a certain amount of time
Pie charts, which help show a percentage as compared to the whole
These are just some of the many ways that data can be represented visually. The type of graph or chart used depends on the data being displayed and the story the authors wish to tell. Showing trends within an industry can help a company make better decisions from advertising to product design. An understanding of data also enables managers to reduce the number of risks that a company takes, or only take risks that are safe. These reasons absolutely make it worth it to hire someone who can produce data visualizations.
How Can Data Visualization Help?
While they are pretty to look at, can data representations actually be useful for a business? The short answer is yes. Visualization does this by:
More accurately predicting future sales and profits
Displaying bits and pieces of information in a form that is easy to digest
Quickly showing shareholders what does and does not work for a company
Highlighting patterns to do with sales, employment, customer satisfaction, and many other factors
Many companies are able to gather a lot of data but have no idea how to put that data to use. By creating interactive charts and images, a business ensures that people look at and think about the information that they gather. These insights enable a company to make better decisions.
What Tools Are Available?
There are many free and paid tools available to assist with creating insightful images from your data. Some allow users to create a wide variety of interactive charts and dashboards, while others let users design many different charts and graphs from their existing data.
There are tools you can use to create a unique and exciting infographic for your company to display on its website and other promotional materials. Online infographic makers can be useful as they enable you to choose a free template that fits with other characteristics of your marketing campaign, including fonts, colors, and images that suit your industry and audience.
If you are thinking about taking your business to the next level, consider what data visualization can do for you and find out how Out And About Business Solutions can help.